Landlords who are renting out properties can follow a number of tips to more effectively save their money by protecting their investments and themselves throughout the winter months.
This is especially applicable to those owning buildings or homes in the state where there are high real estate prices. Harsh winters can lead to a number of increased risks through increases in fire hazards and complications with snow removal efforts.
Many landlords in the state are forced to lean on their property insurance for financial protection against accidents that can be very expensive. That said, the best way to save the most money is to avoid having to make property insurance claims by taking the right preventative actions to stop the accidents from occurring at all.
Some of the tips that landlords might consider are:
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• Install a sprinkler system indoors to help to minimize the damage caused by a fire. Dry Christmas trees, faulty strings of lights, or festive candles can all present a risk of fire and keeping any damage to a minimum can also keep any associated costs as small as possible.
• Be vigilant against snow and ice by laying down salt ahead of a storm to reduce the chance of accidents involving slipping and falling which could lead to a lawsuit. All ice and snow should also be removed as quickly and effectively as possible.
• Have a professional check over the plumbing systems ahead of the extremely cold weather, and encourage tenants to keep their heat on a low setting regardless of whether or not they are home. This will help to prevent frozen pipes which can lead to highly expensive repairs.